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The paper focuses on public finance and the aspect of fiscal consolidation in Poland as economic consequences after the financial crisis in 2008. The study assumes that there is a wide range of needs for fiscal consolidation implementation in European post-crisis countries. Budgets of the vast...
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. This divergence from the Ricardian equivalence thesis is traced to the omission of interest payments on public debt as part …
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(ZLB) on the nominal interest rate. Fiscal stabilization via higher government debt is frequently recommended as a policy … with a debtfinanced fiscal expansion and show that even in a low real interest rate environment, higher debt doesn …’t necessarily raise the real interest rate. The effect of the expansion is non-monotonic: Increasing debt raises the natural real …
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show that growth is higher if the debt to GDP ratio is below 60 % compared to values above it. Moreover, a comparison with …
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